Warner-Lambert gives nod to Pfizer's sweetened bid

Article Abstract:

Warner-Lambert Co has accepted the $84.4-billion hostile takeover bid of rival pharmaceutical giant Pfizer Inc. Under the deal, Pfizer will swap 2.75 shares of its stock for each Warner-Lambert share, giving Warner- Lambert a value of around $99 per share. Pfizer initially proposed an exchange ratio of 2.5. Warner-Lambert had originally agreed to a $56.3- billion merger with American Home Products Corp before Pfizer came up with its hostile bid.

Pharmaceutical Preparation Manufacturing, Pharmaceutical Preparations, Drugs, Warner-Lambert Co.

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U.S. chemical firm expects $3B acquisition in Britain

Article Abstract:

Huntsman, the biggest privately-held chemical company in the US, is close to acquiring the bulk chemical business of the UK's Imperial Chemical Industries. Insiders value the deal at more than $3 billion, including the shouldering of debt. The acquisition would strengthen Salt Lake City, UT-based Huntsman's domination of the low-margin basic chemicals industry. On ICI's part, the sale represents its continuing efforts to sell non-core assets to pay off debts and concentrate on more profitable operations.

United Kingdom, Foreign operations, Chemical Manufacturing, Chemicals & Allied Products, Imperial Chemical Industries PLC, Huntsman Chemical Corp.

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